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HONG KONG: Hong Kong will start testing out a digital coin called the e-HKD from the fourth quarter, paving the way for a virtual currency the public can use in the future to shop, dine out and make money transfers.
By Elaine Yu HONG KONG The Hong Kong Monetary Authority said it would start paving the way for a potential launch of an e-HKD in the future, in order to fully prepare the city for a central.
Hong Kong Monetary Authority Launches Digital ID Service iAM Smart, Calls Service Key Milestone in Fintech Development
The
Hong Kong Monetary Authority (HKMA) has announced the launch of iAM Smart (internet Access by Mobile in a Smart way), a digital identity service that enables users to leverage the biometrics in their smartphone to act as proof of identity for all types of digital services including financial firms. A website has been created to explain the service to Hong Kong residents. iAM Smart is available for download as an App.
In a public statement,
Colin Pou, Executive Director of Financial Infrastructures, HKMA, addressed authorized institutions (AIs) and “stored value facility licensees” to encourage adoption of the new technology.